The Senator Who Sold Up to $25 Million of Williams Companies Stock Now Wants to Speed Its Pipelines
Alan Armstrong reported selling up to $25 million of Williams Companies stock three months into his appointed Senate term, and he is now pushing the permitting fight that decides how fast pipelines and power lines get built. The company he ran is spending $5.5 billion on the same demand, and a search of coverage through October 16 found no report connecting the two.
Vincent Jiang · 3 min read
On June 24, 2026, three months after Governor Kevin Stitt sent him to Washington, Senator Alan Armstrong reported selling up to $25 million of stock in Williams Companies+1.67% — Williams Companies, up 1.67 percent as of its last quote, the Tulsa pipeline company he ran for more than a decade 12. A search of coverage through October 16 found no outlet reporting the trade. It dwarfs everything Williams insiders filed over the same six months: twelve sales, zero purchases, roughly $6.7 million combined 1.
The senator's disclosed Williams sale dwarfs six months of insider selling
- Estimate
Data
| Value | |
|---|---|
| Sen. Alan Armstrong (est., disclosure ceiling) (estimate) | $25M |
| CFO John Dean Porter (est.) (estimate) | $3.8M |
| General Counsel Terrance Wilson (est.) (estimate) | $1.8M |
| COO Larry Larsen (est.) (estimate) | $0.9M |
| SVP Glen Jasek (est.) (estimate) | $0.2M |
The senator says data centers are the scapegoat
Armstrong told Newsweek, in an interview published October 15, that data centers "have kind of become the scapegoat on high energy prices," and that under his proposal large new power users would pay "not only their fair share, but actually a little bit more than their fair share for power" 3.
The Senate permitting bill now moving is the Bipartisan American Affordability and Jobs Act of 2026, a 417-page overhaul of environmental and permitting law that would accelerate energy projects and require data centers to cover their share of transmission costs 4. The record does not show Armstrong as its author or sponsor. He wants to hold his appointed seat through January to finish work on permitting reform 5.
The company he left bet $5.5 billion on the same demand
Williams, whose own materials say its system moves about a third of US natural gas 6, closed its $5.5 billion purchase of Momentum Midstream in September and became the largest gas gatherer in the Haynesville Shale, the Louisiana and East Texas gas field 78. Haynesville deals have reached $7.8 billion in 2026, ahead of the Permian Basin, the West Texas oil field, at $7.4 billion 8.
Chad Zamarin, Williams' president and chief executive, said the completed deal established "a premier Haynesville position" serving liquefied natural gas and power demand along the Gulf Coast 8. Williams' own releases name Zamarin in the top executive job 67, confirming Armstrong has left the company 3.
Williams sold $2.75 billion of notes on September 8 to repay commercial paper, the short-term corporate IOUs large companies sell, and fund capital spending 9. The bill would speed exactly the kind of pipelines and gas plants Williams is building to feed liquefied natural gas exports and data-center power demand 46.
Capital spending has almost tripled from its 2024 low, and free cash flow has dipped below zero
- Capex
- Free cash flow
Data
| Capex | Free cash flow | |
|---|---|---|
| Q3 '23 | $0.7B | $0.53B |
| Q4 '23 | $0.69B | $1.12B |
| Q1 '24 | $0.54B | $0.7B |
| Q2 '24 | $0.61B | $0.67B |
| Q3 '24 | $0.73B | $0.52B |
| Q4 '24 | $0.8B | $0.42B |
| Q1 '25 | $1.01B | $0.42B |
| Q2 '25 | $1.01B | $0.44B |
| Q3 '25 | $0.99B | $0.45B |
| Q4 '25 | $1.98B | -$0.41B |
| Q1 '26 | $0.99B | $0.61B |
| Q2 '26 | $1.86B | -$0.48B |
A disclosed sale, an unverified $2.8 million claim
A post on X claims Williams' board preserved $2.8 million of stock for Armstrong so he "would not be financially penalized for his public service" 11. The report behind that claim could not be located and no independent source carries it, so it stands flagged as unverified.
Nothing in the record shows his holdings shaped a vote, and the sale appears in the congressional disclosures the law requires 1. Armstrong told Newsweek he does not intend to return to Williams 3.
The bill's opponents name who they expect to benefit: 185 community, labor and climate groups said on October 13 it is a "back-door deal" for large AI data centers and the fossil fuel infrastructure that would power them 12.
Two November deadlines decide the next move
Oklahoma votes on November 3, with Republican Representative Kevin Hern favored to win and already fighting Armstrong over who holds the seat for the two months after the results are certified 513. Oklahoma's attorney general has been asked to rule on when the appointed senator's term ends 5.
Williams shares slid 3.6% on October 15 with no fresh company-specific news, as investors weigh leverage after the Momentum deal and the new debt behind it 19.
One provision would exempt pipelines in existing rights-of-way from environmental review 12, and Williams' $1.5 billion Delta Access project is an expansion along its existing Transco pipeline corridor 6. The dates to watch are the company's third-quarter results on November 2, Oklahoma's vote on November 3, and the permitting fight Armstrong wants to stay in the Senate through January to finish 510.
Deepdive
AI-generated from this story and its cited sources. Not investment advice.
